🧠Quote(s) of the week:

‘In a world of exponentially growing trust problems, it is prudent to own Bitcoin, the only asset that requires zero trust.’ -James Lavish

‘Bitcoin is a tool for:

1. Financial inclusion
2. Banking the unbanked
3. Eliminating financial discrimination
4. Cross-border payments
5. Enhancing green energy
6. Improving grid resiliency
7. Reducing emissions All of these are aligned with Democrat values.’ - Dennis Porter

🧡Bitcoin news🧡

Now before I start with the Weekly Recap I want to share the following message and start the Weekly Recap with some news from the Bitcoin Conference in Nashville: The dying of the niche is HYPERBITCOINIZATION.

Well, it’s 2024 and Bitcoin has already become a national issue in the USA. We are not a niche anymore. It’s as negligent for a nation not to have a Bitcoin strategy today as it would have been to ignore the internet in 1994.

Last week during the Bitcoin Conference in Nashville the Independent candidate for President (RFK Jr) AND the Republican candidate (Donald Trump) went on stage and are now vocally pro-Bitcoin. This is crucial because it forces the hand of the Democratic Party. More on that below in the segment Macro/Geopolitics.

Over time, having a good Bitcoin policy will be mandatory to win an election. Not only in the U.S. but globally, but for the love of God/Allah or whatever you believe in…Stop larping!

Bitcoin doesn’t need politicians. Politicians need Bitcoin (Votes and Bitcoiners).

So how will they get votes?

👉🏽Let’s start with RFK Jr. one-liners: “I would like to have the federal government begin to buy Bitcoin and over my term in office, ultimately have an equivalent amount of Bitcoin that we have gold.”

“Bitcoin is honest because there’s nobody in control, it’s based on Proof of Work, and decentralized with everything on the ledger.”

“US Presidential candidate Robert Kennedy F. Jr. says he will sign an executive order for the US to buy 550 Bitcoin a day until they build a reserve of 4 million BTC if elected president. RFK Jr.”

👉🏽Senator Cynthia Lummis: Senator Cynthia Lummis announces legislation for a Strategic Bitcoin Reserve for the USA. Read more: https://www.lummis.senate.gov/press-releases/lummis-announces-revolutionary-proposal-to-supercharge-the-dollar-bolster-u-s-economy/

👉🏽Trump: “If President, he pledges to form a Bitcoin Reserve, using 210,000 Bitcoin seized by the Department of Justice, as the core of a new “Strategic National Bitcoin Stockpile.” Overall Trump’s speech was atrocious. He showed zero understanding or authentic support for Bitcoin. It was very clear he understood nothing about Bitcoin. And doesn’t care. “Have fun with your crypto”.

👉🏽Now what about the Democrats? More on that below in the segment Macro/Geopolitics.

Anyway:

Michael Saylor’s new Bitcoin price prediction:

21-year price forecast: Bear: $3M (ARR: 21%)

Base: $13M (ARR: 29%)

Bull: $49M (ARR: 37%)

Do you think that $49M is crazy? Read the following post, brilliant breakdown and forecast: https://x.com/infraa_/status/1817213782822985783

23rd of July:

➡️’Lightning Labs launches Taproot Assets on Bitcoin to bring “trillions of stablecoin volume to Bitcoin.’ -Bitcoin Archive

➡️Bitcoin is the most recognizable brand in the world and it got there without a CEO or marketing team.

24th of July:

➡️Ferrari to accept Bitcoin in Europe after successful launch in the U.S. “If you can imagine it, you can do it.” - Enzo Ferrari

➡️Kraken reports they have successfully distributed the Mt. Gox Bitcoin back to the creditors. It’s been nearly a decade since Kraken was selected by the Trustee to facilitate the investigation and return of client funds.

➡️Bitcoin finance company, debit card &financial services, Fold to be listed on the NASDAQ with over 1.000 Bitcoin in its corporate treasury.

➡️ Privacy-focused email provider Proton Mail launched an open-source Bitcoin wallet. They have over 100 Million users

➡️Jersey City to buy Bitcoin for the city’s pension fund, says City Mayor

➡️’Bitcoin Strategies for the Nation States’

Very well written by Freddy New and the people from the Bitcoin Policy UK.

https://www.bitcoinpolicy.uk/post/bitcoin-strategies-for-nation-states

They encourage you to read their open letters, download the policy manifesto, and share it with your local MP.

25th of July:

➡️’Marathon Digital Holdings (MARA), a company that harnesses digital asset computing for energy transformation, has purchased $100 million worth of Bitcoin, boosting its total holdings to more than 20,000 Bitcoin. With a new treasury strategy and commitment to holding all mined Bitcoin, they’re solidifying BTC as a prime reserve asset.’ - BTC Times

➡️Since Microstrategy bought their first Bitcoin on 11th of August 2020 the company is up 1090%. In comparison, Nvidia is up 893%, and Apple is up 91%. -Bitcoin for Freedom

➡️Jersey City will make a 2% Bitcoin allocation for its pension fund. The Jersey City pension fund is updating paperwork with the SEC to allocate a portion of the fund to Bitcoin ETFs, similar to the Wisconsin Pension Fund’s 2% allocation - the Mayor of Jersey City

“I’m sure eventually it will be more common,” says Mayor Steven Fulop

26th of July:

➡️U.S. Senator Marshall withdraws his support for the bill to backdoor ban Bitcoin self-custody authored by Elizabeth Warren.

➡️Argentina’s General Inspector approves the first company capitalized with Bitcoin.

➡️Semler Scientific has filed with the SEC to raise \(150M to buy more Bitcoin It already bought \)58m Bitcoin. This is the MicroStrategy playbook.

➡️ $1.5T Franklin Templeton has partnered with one of Japan’s biggest financial services companies, SBI Holdings, to launch a Bitcoin ETF in Japan - Nikkei

➡️Bitcoin makes a new all-time high in Brazil.

➡️After Wisconsin and Jersey City now also the Michigan Retirement System bought \(6.6 million in Bitcoin through the ARK ETF. In an SEC filing on the 26th of July, the State of Michigan Retirement System reported owning \)6.6 million of the ARK Bitcoin ETF (110,000 shares) as of June 30.

Hello, game theory! Soon there will be dozens more and then hundreds.

➡️Publicly-traded company OneMedNet announced a Bitcoin treasury strategy after an investment from Off the Chain Capital. It announced a $2.8 million investment into Bitcoin.

26th / 27th of July: Bitcoin Conference

Let me start by using the same quote as I shared in multiple Weekly Recaps in 2023: Remember what I said a while ago on politicians: “My personal opinion. Be wary of politicians who promise to give you exactly what you want. Politicians are just politicians! Bitcoin doesn’t need politicians, politicians need Bitcoin (and votes). Don’t lose the plot. And stop larping! Stay humble & stack sats.”

The first government to adopt Bitcoin was always going to spread it to the rest and with the conference in Nashville, Bitcoin continues on its Trojan Horse adoption journey! We are not a niche anymore.

➡️Governor of Louisiana endorses the Bitcoin Strategic Reserve strategy after protecting self-custody and banning CBDCs. “Louisiana is a leader in bitcoin—banning CBDCs and protecting self-custody. We should continue to lead by having a strategic reserve of Bitcoin as Donald Trump suggests!

➡️ At the start of the segment you saw one of RFK Jr’s one-liners buying 550 Bitcoin per day.

TLDR: Probably not possible. Why, read here: https://x.com/BitPaine/status/1817019849694151089

➡️’EDWARD SNOWDEN gave an existential warning to all people. “If you stick out, you will become non-normative, an anomaly.”

Snowden warns that within 5-10 years, big data will track every aspect of our lives on the blockchain to create predictive behavioral models.

These models will control whether or not you are given a loan, whether or not you will be hired for a new job, and how you participate in the marketplace. This 2-minute clip of Snowden at the Bitcoin Conference in Nashville is mandatory listening.’ -Lauren Lee

Watch the clip here

The point above worries me a lot. If we can’t create a robust Bitcoin economy the future isn’t as bright as all might think. And because of that and to protect our rights and freedoms it is maybe a good thing to actively engage in the political process. The government will always be in the way.

For now, I don’t think the EU will have in the future a Bitcoin-friendly jurisdiction as they like to regulate the shit out of everything.

Modern problems require modern solutions…but how many think about that and act upon?

You are a Bitcoiner. You stack through non-KYC, and you have a KYC stack, you coinjoin, and you hold for your future.

On the 28th of July:

➡️ FORBES: “We are witnessing game theory play out in real-time, as nations and organizations adapt to the growing significance of #bitcoin in the global financial system.”

💸Traditional Finance / Macro:

👉🏽no news

🏦Banks:

👉🏽 U.S. Banks Report from the Office of the Comptroller of the Currency finds that half of large U.S. Banks are failing on operational risk.

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🌎Macro/Geopolitics:

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On the 23rd of July

👉🏽China builds the world’s 1st meltdown-proof nuclear reactor with 105 MW capacity, making it possible to build nuclear plants without the risk of dangerous meltdown.

On the 24th of July:

Switzerland now requires all government software to be open source. While this legislative move positions Switzerland at the forefront of the global open-source movement, more work needs to be done both in Europe and the US.

For more info read the full article here:

On the 25th of July:

👉🏽’Biden says in his Oval Office address, “I’m the first president this century to report to the American people that the United States is not at war anywhere in the world.” (The Pentagon announced airstrikes in Yemen earlier today.)’ -Ken Klippenstein

I smell bullshit from miles away. Through proxies, the US is at war in Europe and the Middle East. Misleading as always. The U.S. has not declared war since 1942. It only has bombed and fought almost half the globe.

On the 26th of July:

👉🏽Let’s talk about demographics:

‘Remarkable chart, within just a decade net migration into Germany has been almost 6 Million people. That’s more or less Berlin and Munich combined. Has there been any public debate that this is what Germans want to happen in their country?’ -Michael A. Arouet

Now you wonder why this is happening. It’s quite straightforward.

In the year 2000, a UN paper was released called “Replacement Migration”. You can Google it, it’s public. This isn’t some mystery or even conspiracy theory. It’s simple birth rate math.

Now ask yourself. Unskilled immigration into the social system doesn’t solve the demographic problem, it makes it worse.

Unfunded pension liabilities are a bitch ass ponzi to deal with because more and more people in the West are going to be retired and fewer and fewer people will be working to support them. What’s your solution? Tax the young until their pips squeak?

People have to understand that they can’t keep their retirement system while having one of the lowest birth rates and not welcoming immigrants. Oh well, the social welfare and retirement system is going to implode anyway. It is a mathematical certainty.

What about the Netherlands? Now I hear you say what about the Netherlands? Well, the Netherlands with a population of about 1/5th of that of Germany, with about 1 mln migrants isn’t lagging that far behind, as it is only a small country! If we look at per capita the Netherlands took a similar amount of migrants. This, amongst other things, is why they now have to deal with Wilders, a right government.

👉🏽EU transfers €1.5bn in profits from frozen Russian assets to Ukraine. Ridiculous decision as always from the EU. A very dangerous precedent that undermines the Western financial system in the eyes of China and beyond. Here is a comprehensive discussion on the topic: Click here

Anyway, this is why Bitcoin. Sovereignty of your own money!

👉🏽June PCE inflation, the Fed’s preferred inflation measure, was 2.6%, ABOVE expectations of 2.5%.

Core PCE inflation fell to 2.5%, in line with expectations of 2.5%. Now, PCE inflation is flat and PPI inflation is rising.” -TKL

On the 27th of July:

👉🏽If your income and net wealth have not increased by 25% since 2020 you are poorer now than four years ago. Oh and don’t forget to pay capital gains taxes on top.

Source

‘Despite this, US Federal debt/GDP rose over this period, from 107% in 1q20 to 122% in 3q24.

That the financial repression playbook resulted in HIGHER debt/GDP with 25% aggregate inflation = inflation needed to be FAR higher to avoid a debt spiral (& ultimately likely will be).’ - Luke Gromen

What about the Netherlands?

According to Jeroen Blokland: Netherlands: purchasing power down 18% since 2020!

👉🏽The by far biggest takeaway from these US elections regarding Bitcoin is that two out of three leading candidates have made Bitcoin an important part of their campaign, and the third is being asked to change her party’s stance. Democrat politicians have written a letter to the DNC, asking the party to pivot away from the anti-bitcoin policies of Elizabeth Warren.

This is likely in response to polling data, the GOP pro-bitcoin policies, and President Trump speaking at the Bitcoin Conference.

The fact that all kinds of US government officials are now calling for a “bitcoin strategic reserve” is completely wild.

You are not bullish enough Anon!

🎁If you have made it this far I would like to give you a little gift:

Must watch, fresh from the oven:

The new documentary, “God Bless Bitcoin,” is now available to view in its entirety on X or on their website:

‘God Bless Bitcoin is a documentary that takes a deep dive into the moral and ethical aspects of Bitcoin and the impact that this money can have on the world.

The film will soon be available in Chinese (Mandarin), Hindi, Arabic, Spanish, French, Portuguese, Russian, Bengali, Italian, Indonesian, German, and Japanese.’

Everyone should learn how Bitcoin works. If you want to know more, click here: https://www.godblessbitcoin.com/watch/

Credit: I have used multiple sources! My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. (Please only use it till the 31st of October - after that full KYC)

Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.⠀⠀ ⠀⠀

Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node…be your own bank. Not your keys, not your coins.

It’s that simple.⠀⠀⠀

⠀⠀⠀⠀⠀

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Have a great week!

Bitcoin Friday 🧡